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Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
 Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal projects, including the high quality Kubah Indah Coking Coal Project, after successfully concluding due diligence.
KRL announced the acquisition of the projects in November 2009, significantly expanding its existing coal portfolio in East Kalimantan, Indonesia.
The completion of due diligence clears the way for drilling to commence at Kubah Indah, where the company has an exploration target ranging from 100-140 million tonnes of coking coal for this project.
In a statement the company said this drilling program will be conducted in parallel with the ongoing ramp-up of production at KRL’s other Indonesian operations (which are subject to contract).
KRL Managing Director Mark O’Keeffe said the completion of due diligence on Kubah Indah and the other projects within the portfolio was another positive step forward for the company as it ramps up production in Indonesia.
“The completion of due diligence was high on our list of priorities and, as expected, the projects were found to be technically and legally sound,” he said.
“Kubah Indah in particular will become a very important project for us and, in combination with the Mamahak Project, will form the backbone of our coking coal production profile in the future."
“We will now move quickly towards the commencement of an initial exploration programme at Kubah Indah, and over the coming months we expect to be able to delineate a significant JORC resource,” added Mr O’Keeffe.
The consideration for these five acquisitions, comprising 300 million Kangaroo shares, will be issued to the project vendors upon receipt of shareholder approval.
KRL has advised that 17.5 million shares have been brought back into the company as a result of this renegotiation.
In June 2009, KRL announced an agreement relating to the acquisition of the high quality thermal coal projects Mitra Barya Karsa (MBK) and Bara Pratama (BP) which have both been subject to necessary due diligence.
The company’s economic interest in both the MBK and BP Projects will, on completion of the acquisition, be increased to 100%.
Both of these projects are considered to be highly prospective, high-quality thermal coal projects which KRL will be aiming to take into production in the medium term.
To date the prioritization of the coking coal production, particularly at the Mamahak Project, has delayed progress at MBK and BP, but KRL is still aiming to conduct the necessary work to bring these two thermal coal projects into production.
KRL also recently secured an initial export sales contract with a large Chinese energy company, Guandong Yudean Farnon Investment Co. Ltd (Yudean Farnon).
The sales contract involves the provision of three trial shipments containing a total of 150,000 tonnes of coal over a two-month period. Upon successful completion of these shipments, KRL expects to extend this agreement to cover additional tonnages of coal.
Pricing for the contract is linked by formula to the Chinese Coal Index and based on indicative levels, shows very healthy margins for the blended coal to be sold.
Source: Proactive Investors
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Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
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